L3Harris Technologies (NYSE:LHX) Reaches New 1-Year Low Following Analyst Downgrade

L3Harris Technologies Inc (NYSE:LHX)’s stock price reached a new 52-week low during trading on Monday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The company traded as low as $234.59 and last traded at $236.9690, with a volume of 78450 shares. The stock had previously closed at $237.69.

Other equities analysts have also recently issued reports about the company. Melius Research cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Susquehanna reduced their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group cut L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $355.92.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in L3Harris Technologies by 2.9% during the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after purchasing an additional 252,662 shares during the period. Wellington Altus USA Inc. bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $88,000. Talon Private Wealth LLC boosted its position in shares of L3Harris Technologies by 9.2% during the second quarter. Talon Private Wealth LLC now owns 9,700 shares of the company’s stock worth $2,819,000 after acquiring an additional 821 shares during the last quarter. Core Capital Management & Research inc. purchased a new position in L3Harris Technologies during the second quarter valued at $2,784,000. Finally, Sequoia Financial Advisors LLC increased its holdings in L3Harris Technologies by 10.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 66,606 shares of the company’s stock valued at $19,355,000 after acquiring an additional 6,414 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

The firm has a market cap of $43.98 billion, a PE ratio of 23.86, a PEG ratio of 1.52 and a beta of 0.50. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm’s 50 day simple moving average is $267.67 and its 200 day simple moving average is $301.03.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The firm had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, research analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.1%. L3Harris Technologies’s payout ratio is presently 50.51%.

About L3Harris Technologies

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.